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China Mobile seeks partner for bids on MTN assets

China Mobile is searching for a foreign firm to partner with it on a bid for the assets of South Africa’s MTN Group in Iran, Syria and Sudan valued at about US$2 billion, the South China Morning Post reported, citing sources close to the matter. China Mobile wants to be a junior partner in the transaction, as management believes it does not have the skills necessary to operate the assets. China’s largest mobile phone company has approached or plans to approach firms with a strong Middle Eastern and African presence, such as France Telecom, Kuwait-based Zain, Egypt’s Orascom and Etisalat of Dubai. MTN is interested in selling its stakes in the three countries so as to avoid conflict with the US Department of Treasury’s Committee on Foreign Investment, which is critical of the governments in Iran, Sudan and Syria.

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